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Adenia Partners Completes US$199 Million First Close for Adenia Capital IV (Sub-Saharan Africa)
Adenia Partners, a private equity fund manager focused on growth capital investments and mid-cap buyouts in Sub-Saharan Africa, has reached a first close for Adenia Capital IV with EUR180 million (approximately US$199 million) in capital commitments. The fund, which is targeting EUR200 million (approximately US$221 million) in total commitments, will primarily invest in mid-market companies in the consumer goods, business… Read More
Venture Capital-backed Betta Pharmaceuticals Raises US$106 Million in IPO (Asia)
Betta Pharmaceuticals, a China-based drug developer backed by Lilly Asia Ventures (LAV), Shenzhen Cowin Venture Capital and China Everbright, raised CNY720 million (approximately US$106 million) in its IPO on the Growth Enterprise Market Board of the Shenzhen Stock Exchange, selling 41 million shares for CNY17.57 (approximately US$2.59) per share. LAV, Shenzhen Cowin and China Everbright did not dispose of any… Read More
General Atlantic Acquires Additional Stake in Carlyle-backed PNB Housing Finance After IPO (Asia)
Global growth equity firm General Atlantic has acquired an additional 3.38 percent stake in PNB Housing Finance, a Bombay Stock Exchange-listed loan provider, for INR5.01 billion (approximately US$75 million) following the company’s trading debut. General Atlantic first acquired shares worth US$7 million in the company as an anchor investor in its IPO, concluded in late October 2016, in which PNB… Read More
EBRD Participates in US$3.2 Million Series A Round for GoOpti (CEE and CIS)
The European Bank for Reconstruction and Development (EBRD), along with Europe-focused venture capital firms RTA Ventures and Point Nine Capital, has participated in a EUR2.9 million (approximately US$3.2 million) Series A round for GoOpti, a Slovenia-based ride-sharing platform for shuttle bus services. In conjunction with the investment, the company also received a EUR1.5 million (approximately US$1.7 million) grant from the… Read More
Alkhabeer Capital Acquires Majority Stake in Rihab Al-Maarifa Company (MENA)
Asset management and investment banking firm Alkhabeer Capital has acquired a majority stake in Saudi Arabia-based K-12 education provider the Rihab Al-Maarifa Company. The company plans to use the investment to improve efficiency and implement new programs in order to strengthen its position in the Saudi Arabian education market. Financial details of the transaction were not disclosed. Read More
HarbourVest Partners Reaches US$4.77 Billion Final Close for Dover Street IX (Global)
Global private markets asset manager HarbourVest Partners has reached a final close for secondaries fund Dover Street IX with US$4.77 billion in capital commitments. The fund will focus on acquiring fund interests across different stages, geographies and investment years. Investors in the fund include corporations, pension funds, endowments, foundations and high-net worth individuals. Read More
IDG Ventures India and Accel Partners Invest US$3 Million in Bizongo (Asia)
Venture capital firms IDG Ventures India and Accel Partners have made a US$3 million Series A investment in India-based Smartpaddle Technology, the owner of business-to-business packaging materials marketplace Bizongo. The company plans to use the funds to expand its seller base, build automation, improve its supply chain and strengthen its technology and operations teams. Accel is an existing shareholder in… Read More
IK Investment Partners Agrees to Sell Axtone Group (CEE and CIS)
Pan-European private equity firm IK Investment Partners has agreed to sell Poland-based railway components manufacturer Axtone Group to U.S.-based industrial engineering and manufacturing company ITT. IK originally invested in Axtone through its IK 2004 Fund. The transaction is subject to customary closing conditions and regulatory approvals and is expected to close in the first quarter of 2017. Financial details of… Read More
Qiming Venture Partners Reaches Final Close for its Fourth RMB Fund (Asia)
China-focused venture capital firm Qiming Venture Partners has reached a final close for its fourth RMB fund with CNY1.5 billion (approximately US$222 million) in capital commitments. Investors in the fund include CDB Capital, Oriza Holdings, Gopher Asset Management, Pingan Wealth and high net worth individuals. Qiming Venture Partners targets opportunities in the technology, media, consumer, health care and clean energy… Read More
Convergence Ventures Reaches US$30 Million Final Close for Debut Fund (Asia)
Indonesia-focused early-stage venture capital firm Convergence Ventures has reached a final close for its Convergence Capital Fund I with US$30 million in capital commitments. The firm, formerly known as Convergence Accel, plans to make around 30 investments from the fund, which will target companies focused on disruptive digital and mobile internet opportunities. Read More
Samena Capital Leads Series B Investment in Anghami (MENA)
Samena Capital, a principal investment group focused on the Indian subcontinent, the Middle East and North Africa, has led a Series B investment round for Lebanon-based music streaming platform Anghami. United Arab Emirates-based telecommunications service provider du also participated in the round and signed a commercial agreement to bundle the two companies’ products. Anghami will use the funds for song… Read More
responsAbility Leads US$1.5 Million Debt Round for PEG Africa (Sub-Saharan Africa)
Development finance-focused asset manager responsAbility Investments has led a US$1.5 million debt financing round for Ghana-based pay-as-you-go solar energy provider PEG Africa. Social investor Oikocredit and solar energy-focused crowdfunding platform SunFunder also participated in the round. The investment will be used to fund the purchase of solar home systems intended to reach 75,000 people in Ghana. Read More